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Basic Question 6 of 6
A company has receivables resulting from trades with a client. The client has already filed a petition for insolvency. According to IFRS, the receivables ______ be recognized on the balance sheet.
B. should not
A. should
B. should not
User Contributed Comments 4
| User | Comment |
|---|---|
| johntan1979 | Going concern principle |
| Shaan23 | What about US GAAP? What happens there? |
| Freddie33 | Impairment loss? What's that? |
| walterli | Allowance for bad debts |
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Martin Rockenfeldt
Learning Outcome Statements
describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards
CFA® 2024 Level I Curriculum, Volume 2, Module 1.